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To access the FCA Handbook Archive choose a date between 1 January 2001 and 31 December 2004.

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free delivery

23 (for the purposes of BIPRU)73 a transaction of the type set out in BIPRU 14.4.2 R (Requirement to hold capital resources with respect to free deliveries) which, in summary, is a transaction under which a person:

  1. (a) has paid for securities,foreign currencies or commodities before receiving them or it has delivered securities,foreign currencies or commodities before receiving payment for them; and
  2. (b) in the case of cross-border transactions, one day or more has elapsed since it made that payment or delivery.